Ford to pay $750 million severance to workers at Belgium plant

March 20, 2013

Hourly workers at Ford Motor Co.’s plant in Genk, Belgium, will get $750 million in severance as part of a deal that allows the automaker to close that factory by the end of 2014, the company said on Tuesday.

Ford and the 4,000 hourly workers at the plant reached a deal last week that allows the U.S. automaker to go through with its plan to close the factory, which currently builds the Mondeo sedan.